What do barriers to entry have to do with the extent of competition, or lack thereof, in an industry?
without barriers to entry :
a. existing firms will experience price leadership.
b. new firms will enter industries where firms are earning accounting profits.
c. new firms will enter industries where firms are earning economic profits.
d. existing firms will agree to charge the same price and not compete.
e. new firms will enter industries exhibiting diseconomies of scale.
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What do barriers to entry have to do with the extent of competition, or lack thereof, in an industry...
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